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EXECUTIVE SUMMARY:
MISSION:
Mission is to provide the unique style to every client.
DESCRIPTION:
Mehran Banaras Collection & Boutique is an upscale women & men's clothing boutique that
will open in January 2012. Mehran that means, "Happiness" or Bringing Happiness defines
the boutique and its essence of inclusion. Mehran Banaras Collection & Boutique clothing
selections and exclusive personal style services, which include a detailed Style Assessment,
will ensure that our customers are well dressed.
PRODUCTS/SERVICES:
Mehran Banaras Collection & Boutique will carry Ready-to-Wear (RTW) designer, formal,
casual, party wear and especially bridal apparel for women & men. Mehran Banaras
Collection & Boutique will feature other choice selections by Pakistanis traditional and
western females taste such as Shalwar Kurta, Weekend Maxi and short dresses for party
wear, Designer Tops in casual collection.
UNIQUE & INNOVATIVE:
Mehran Banaras Collection & Boutique will provide services such as Style Assessments,
alterations, personal shopping, and special ordering to customers during store hours and by
personal appointments. Style Concierges who are trained within the image industry will be
available to customers on a daily basis. Mehran Stitch's innovative Style Assessments and
educational emphasis in helping women & men develop their personal styles will enhance
our reputation as a truly unique boutique.
MARKETS:
The Mehran Banaras Collection & Boutique customer is a busy professional man & woman,
university student, rich housewives & Husbands who lives in the City of Pakistan Khairpur
with a household income over 20000/- per month. He/ She enjoy the boutique fashions and
wants a place where He/ She can get unique style meet her lifestyle need.
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COMPETITION:
Mehran Banaras Collection & Boutique has stiff local competition with the few boutiques in
Khairpur. Direct competitors include those boutiques that carry some of the concepts that
Mehran Banaras Collection & Boutique plans on carrying or could move easily into carrying,
and are located in the Valley. Indirect competitors are those boutiques in Sukkur and
Khairpur that focus on a different target market or do not focus on unique design that Mehran
Banaras Collection & Boutique will carry, in addition to well-known boutiques in
other metropolitan areas.
FY 2013
6,600,000
2,772,000
FY 2014
7,260,000
3,049,200
FY 2015
7,986,000
3,354,120
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MARKETING PLAN:
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APPAREL LINES
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Average
377,796
The above method is the one way to check the market size, thought we not stick to these
statistics we design a questionnaire and design a sample of 30 respondents from them we
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Market Size 1
495,832
According to our small survey of 30 respondent we found that Close to 50% are studying and
17% are housewife, 13% have running their own business and 20% are working women. The
clothing market can be segmented into various sectors of customers who differ in style, color
and cloth preferences. These people can be safely segregated from demographics involving
the ages of 15 to 50 particularly talking about the female customer base. The young girls
from the age span of 15 to 20 adopts a preference of a specific palette of colour range that
includes bright and playful colors for example shades of yellow, shocking pink and shades of
light green. This segment prefers a more contemporary mode of clothing that involves jeans,
skirts, frocks and trendy variations of shalwar kameez The segment that follows from the
ages of 21 to 25 categorizes those girls who adopt the clothing involving the same types of
the younger segment but keep a tendency to incline towards formal wear since a percentage
of these girls are married and workingwomen. The ages from 26 to 35 include mature women
who have the tendency to sway from various modes of clothing. They tend to either fall into
a very simple and normal mode of dressing. At some point these women & men start to adopt
a nature of being adventurous and experimental in their preferences. 36 to 50 and onwards is
categorized as a segment that involves middle aged married women & men and old matured
independent ladies who are studied to be the most experimental in their dressings. This
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Market Segmentation:
Khairpur is rated amongst the top Sindh markets in economic and educational achievements.
At an average age of 21, the Khairpur professional is highly affluent, with an average
monthly family house hold income of all the quintiles is Rs.12,326/-
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Mehran Banaras Collection & Boutique has stiff local competition with the few boutiques in
Khairpur & Sukkur. Direct competitors include those boutiques that carry some of the
concepts that Mehran Banaras Collection & Boutique plans on carrying or could move easily
into carrying, and are located in the Valley. Indirect competitors are those boutiques in
Khairpur that focus on a different target market or do not focus on unique design that Mehran
Banaras Collection & Boutique will carry, in addition to well-known boutiques in other
metropolitan areas.
The following are the list of potential direct and indirect competitors present in the market
catering to the mentioned target audience.
Direct Competitors:
Outlets and designer shops will be the direct competitor of our brand since they cater to the
same target market. These shops mostly cater to customized preferences of the customers and
also release their own designs in the dressing categories. Ghouris and Elegant Boutique.
Indirect competitors:
The indirect competitors include all low-end and low priced outlets including shops at Mall
Road, Ayoob Bazaar, Hyderi Bazaar etc that cater to all classes from lower to the upper
middle.
TARGET MARKET:
Demographics:
Female.
Spending 86% of their household income. Professional woman, Housewife,
university Students and Students of O and A Levels(age 15-50) Household income
over 20000/- College-educated and currently studying Lives in a higher-income
Khairpur Neighborhood.
Psychographics:
Looks for something new, willing to spend money on quality, core items.
Would like more time or help in understanding what clothing is right for her.
He/She wants to look her best because He/She wants to feel good about herself as
well as make a good impression at her job.
He/She cares about how He/She presents herself, enjoys fashion, and looks for quality
over quantity.
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Strategy:
Based on small research conducted on women & men's shopping behaviors as well as our
own research for Khairpur women & men, the following marketing strategies will be
employed:
Develop strong relationships with customers by utilizing Style Assessment and
offering services to help each woman determine the right clothes for her.
Provide educational materials and programs that enable customers greater decisionmaking confidence.
Build awareness of brand and services to exemplify strong store reputation.
Provide customers with a sense of access to "inside information" and harness the
power of a woman's personal network by leveraging marketing collateral designed for
sharing and encouraging referrals.
Utilize personal referrals and stylists to build traffic.
Positioning Statement:
Mehran Banaras Collection & Boutique provides women & men with upscale designer
clothing and exclusive personal services. Our main competitive advantage is the unique Style
helping women & men develop their personal style.
Brand Positioning:
'Mehran Stitch' is Pakistani Sindh Cultural image. Building on the meaning of "Mehran,"
Prestige will memorize the pride of Sindhi Emperor, which defines the boutique, and its
essence of inclusion. Style Studio is added to the overall name to suggest that women & men
can come to the boutique to learn about themselves and experiment with their personal style.
By combining these two meanings, Mehran Banaras Collection & Boutique Style Studio
seems to be the leader in providing exceptional service and assistance for women & men's
fashion needs. The elegance of the name suggests the types of clothing and accessories that
will be featured.
Brand Personality:
Innovative | Stylish | Contemporary | Modern | Fresh | Approachable | Elegant | Cultural: The
overall brand personality of Mehran Banaras Collection & Boutique aspires to be
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MARKETING PLAN
MARKETING STRATEGY
Promotion Summary:
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Personal selling and word of mouth via networks of friends, stylists and customers
Unique visual displays in storefront on a weekly basis
PR (local and national)
Boutique email newsletters
Direct mail such as postcard notices that are targeted specifically to the customer
Sales Promotion such as store events.
Mehran Banaras Collection & Boutique Web Site
Magazines cover pages.
Advertising on Facebook
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LOCATION:
Stitching/
La
Presentation
Pattern Making/Cutting:
Based on the designs selected, patterns for cutting are developed and based on these
patterns, fabric is cut, embodied, block printed, and processed accordingly.
Stitching:
The cutting is followed by stitching of fabric, which can either be done by the in-house
stitching unit or by outsourcing it.
Labeling:
Labels are also attached to the apparels in the process of stitching.
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Design:
The initial process starts from the designing phase. Various patterns of clothing and the
fashions in vogue, which also relate to the tastes of the concerned clientele, are designed. The
contracted designer as does this He/ She will provide the basic designs of which the fabric
will be converted into the designer wear garment. On average, a designer is supposed to
provide 40 designs per month or 100-120 designs per season i.e. three months. From these
designs, approximately 50%of the designs are selected for further development of clothes.
Experience:
Minimum two years of experience in a customer service centre with good communication
skills and appearance.
Knowledge and skills required:
Self Motivator.
Communication Skills
Education:
Masters in Management Sciences..
Accountant
Accountant should have a perfect knowledge of keeping the books of accounts and posses a
suitable degree of Accountancy.
Key Responsibilities:
To keep the proper books of accounts.
To keep an account of the daily cash expenses and ( Cash inflows and Out flows)
To make all the financial statements required
Making bills
Qualification:
Must possess at least a Bachelors degree (B.COM).
Tailor:
He will be stitching the clothes as directed by the designer, he will be available all day so that
if there is any alteration he can alter it for the customer.
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Peon:
He will be serving Tea, Coffee and snacks to the customers
Designer:
Designing the clothes and materialize her imaginations for the customers that have unique
sense of styling.
Purchaser:
The purchaser will be getting everything from the market for the clothes for example
laces , buttons , fabric , cloth dying etc.
Recruitment procedure:
Every candidate will go through a comprehensive test regarding the job nature; all of them
will be tested practically and would be selected on the basis of their skills and knowledge.
Training Development:
After Selection a comprehensive training would be provided so to ensure quality standards
for a better working environment.
Critical Risk Analysis
Back Up plan:
High promotion and advertisements will be done so that everyone can know about
our business and come to us.
Copy of designs:
As our business is all about uniqueness so if someone gets successful in copying our design it
will be a problem for our business. so for this we will not advertise our designs and make
animated ads for our business.
Backup plan for copy of our designs:
For this problem we will not advertise our designs and make animated ads for our business.
Rental insecurity:
As the shop is on rent so that is an insecurity that the shop might have to be vacated on the
demand of owners. As we are taking the shop in PC so they will be doing contract so the
likelihood of happening of such situation will be less so we took it 2 and if this happens of
course it will affect our business so consequences are marked as 5.
Backup plan for rent insecurity:
We will do the contract for at least two years
and if after that ye have to vacate the shop we
will shift to Civic Centre.
Political situation (Strikes):
As we know that in Pakistan political situations
are going worst day by day so the likelihood of
its occurrence is marked 6 where as the
consequences are 6 as well because the business
will remain closed and suffer loss.
Back up plan for Political situation:
Employees will stay at the workplace and keep working on the strikes day.
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No Clients:
As we did the survey and according to that 55% of ladies purchase their dresses
from boutique where as almost 95% of female responded that they would be interested if a
dress is specially made for them so there are very little chances that there will be no clients so
we took the likelihood of this situation as 2 and if it happens than of course there will be no
business so consequences is rated as 10.
Power Breakdown:
There is a great shortage of electricity in Khairpur, we won't have any problem with this issue
at the shop but the place where the production is taking place will stop if electricity is not
there. The likelihood is 7 and consequences are 8.
Fight or Flight:
As our business is not a very complicated one so the problem it will face will also be
manageable and as we have made back up plans so we will fight if any such problem arises.
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Milestone:
November 30: Designing of clothes will be started.
December 05: Purchasing fixed assets of stitching unit.
December 10: Stitching building
December 15: Fashion Show
December 16: Billboards & shop availability
December 20-25: Renovation of shop
December 28: Newsletters to people about opening on 1st July and others ads.
January 1: Inauguration party Facebook ads and other promotions.
KEY ASSUMPTIONS
PRODUCTION ASSUMPTIONS
Number of Stitching Machines
Production Capacity (No. of dresses per month)
Capacity Utilization for the first year (No. of dresses per month)
Self Production (% of total production)
Monthly self production (Year 1)
5
500
200
100%
200
COST ASSUMPTIONS
Material & Fabrics
Accessories
Embroidery Cost
Direct Labor Cost
Direct Electricity Cost
Machine Maintenance Cost
Admin & Rent expenses & promotional expenses
Fixed electricity
Average unit cost per dress (Rs.)
1000
25
75
100
20
10
200
20
1450
SALES ASSUMPTIONS:
No. of dresses sold per month (Year 1)
Average unit price per dress (Rs.)
Average Monthly Sales through retail outlet (Rs.)
Sale growth rate (Units)
Sale growth rate (price)
200
2500
500000
10%
13.33%
8
25
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OPERATING ASSUMPTIONS
25
10
10
15
EXPENSE ASSUMPTIONS
Initial Promotional Expenses (Year 1) (%age of expected sales)
Promotion Expenses after Year 1 (% of expected sales)
Machine Maintenance per annum
Direct Electricity per month (Year 1)
Fixed Electricity per month (Year 1)
Telephone and Internet charges (Year 1)
Raw Material Price Growth rate
Payroll growth rate
Machine Maintenance growth rate
Direct electricity growth rate
Fixed electricity growth rate
Rent growth rate
Telephone and Internet charges growth rate
Depreciation Method
2%
1.5%
5000
3000
4000
2000
11%
7%
2%
10%
10%
5%
5%
STRAIGHT
LINE
FINANCIAL ASSUMPTIONS
10 YEARS
25:75
12.50%
5 YEARS
35%
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PROJECT LIFE
DEBT: EQUITY
INTEREST RATE ON LONGTERM DEBT
DEBT TENURE
TAX RATE
COST (RS)
2278000
300000
50000
98000
97920
881920
28800
108800
432000
569600
3393520
SOURCES
848380
2545140
INCOME STATEMENT
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DEBTS
EQUITY